Churchill Capital Corp X/Cayman (NASDAQ:CCCXU) Trading Down 2% – Here’s What Happened

Shares of Churchill Capital Corp X/Cayman (NASDAQ:CCCXU) fell 2% on Thursday . The company traded as low as $15.00 and last traded at $15.00. 694 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,474 shares. The stock had previously closed at $15.31.

Churchill Capital Corp X/Cayman Stock Down 2.0%

The stock’s 50 day moving average is $17.42 and its 200 day moving average is $16.21.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCCXU. Wolverine Asset Management LLC purchased a new position in shares of Churchill Capital Corp X/Cayman during the 2nd quarter worth $1,030,000. Levin Capital Strategies L.P. acquired a new position in Churchill Capital Corp X/Cayman in the second quarter valued at $317,000. Wealthspring Capital LLC acquired a new position in Churchill Capital Corp X/Cayman in the second quarter valued at $994,000. MMCAP International Inc. SPC purchased a new position in Churchill Capital Corp X/Cayman during the second quarter worth about $20,601,000. Finally, BCK Capital Management LP acquired a new stake in Churchill Capital Corp X/Cayman in the 2nd quarter worth about $1,133,000.

Churchill Capital Corp X/Cayman Company Profile

Churchill Capital Corp X/Cayman (NASDAQ: CCCXU) is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands. The company launched its initial public offering in July 2021, offering units composed of one ordinary share and one-third of one warrant. With no operating business at inception, Churchill Capital Corp XU is structured to raise capital through the public markets and to seek an acquisition or merger within a specified timeframe.

The SPAC’s focus is on identifying business combinations in industries poised for significant expansion, including financial services, fintech, digital assets and technology.